The Green Sheet Online Edition
August 27, 2007 • Issue 07:08:02
Tribul Merchant Services: Bullish on merchants
Because new projects have demanded a new name and brand, New York-based Tribul Merchant Services is a revamped Business Pay-ment Systems. The company announced the name change and introduced several new partners at its sixth annual sales conference, held Aug. 5 to 8, in Las Vegas.
The theme of this year's meeting was merchant retention, and Tribul has added new staff members, products and services to help merchant level salespeople (MLSs) do just that.
Tribul's changes began at the top. The company has a new Chief Financial Officer, project management team, information technology (IT) department and marketing department. Tribul made these changes to achieve two goals: to be the industry leader in 1) customer service and 2) technical support.
"Our focus is to continuously think about how to make a merchant's life easier and more profitable," is the company's new mission statement. "It is our duty to empower merchants with an array of services and products that will provide their customers with the best [payment] options to date."
Running with new partners and programs
Tribul and New Era Solutions have teamed up to develop Streamlion, an agent portal designed to help MLSs manage their residuals and merchant accounts.
The system enables agents to track residuals and merchant activity, as well as view application status, all in real time. The portal can send alerts regarding merchants via fax, phone, e-mail or the Internet.
And through Tribul Cash, a newly branded venture, Tribul and F1rst Funds are offering merchant cash advances. The average commission for an agent is $1,400, and the average renewal rate is 50%.
In this ever-changing economy, merchant cash advance is the new "in" thing. It helps merchants find cash they otherwise can't get and provides a nice commission stream to agents. Some other Tribul partners featured included:
- American Express Co.
- Global eTelecom
- IPP of America
- Northern Leasing Systems
- Orion Payment Systems
- The Phoenix Group
- U First Merchant Services LLC
- Web Impact.
Awards and giveaways
As Tribul's success is tied closely to its agents, the company recognized many individuals with awards, including Most Improved, Rookie of the Year, Most New Accounts, and Retail King and Queen. In addition, Tribul honored Paul H. Green, founder and President of The Green Sheet Inc., with a Lifetime Achievement Award for giving so much to the industry over his career.
Giveaways during the conference ranged from cars to digital cameras, televisions, iPods, iPhones and time spent grabbing for dollars in a cash machine.
Agents who had submitted a specified number of Tribul deals were entered into a drawing for one of 10 cars. The cars were available to view in the parking lot and included Cadillacs, Volvos, Chryslers and Jeeps. Drawings occurred throughout the conference. Winners had the opportunity to swap their cars, or in one case, trade a car for a year's worth of gas and a year's worth of mortgage payments.
As MLSs, if you are invited to attend your ISO's sales conference, consider going. Not only will you build new relationships and learn more about tools available to you and your merchants, you'll also have fun.
in a single transaction.
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